ISLAMABAD - The Securities and Exchange Commission of Pakistan (SECP) has rationalised the fee structure payable to the registrar and the Commission under the Sixth Schedule of the Companies Ordinance, 1984 vide its SRO 996(I)/2010. Through this notification, the SECP has reduced the registration fee for physical submission of documents for incorporating a company, with nominal capital up to Rs 10 million. The reduction in fee for incorporation of companies with less capital would encourage small and medium enterprises to enter the documented corporate sector. Previously, the event-based fees structure for filing of different returns was implemented. However, it was observed that practical difficulties were faced, as it was complicated and complex specifically in efiling situations. Now, for simplification in fees structure, a uniform rate for filing of all returns has been applied except relating to registration and modification of mortgages or charges. This rationalisation in fees structure is expected to strengthen the process of corporatisation and documentation of the economy. This initiative by the SECP has been taken after consultation with the stakeholders and is being widely appreciated by them. This decision has been considered as a step towards facilitating the corporate sector, in view of the prevailing economic situation in the country.